Cassiar Asbestos Corporation Limited

NOTE TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1961

Subsidiary company
The financial statements of the subsidiary company have not
been consolidated since it has no liabilities other than $6,669
advanced by Cassiar Asbestos Corporation Limited, and its
only assets are mineral claims, which are in the preproduction
and development stage. The original vendor has brought suit
to recover title to these claims and the Supreme Court of
British Columbia has given judgment in favour of the company.

This decision is being appealed.

Pace Eicur